April 17, 2024
“But Kira, doesn’t an employee cost more than a contractor?! I can’t afford to be compliant!”
We’ve heard it a million times, and we know why. There’s a lot of misinformation out there. And we get it – it might look like employees cost more than contractors at first glance, what with all the benefits and taxes.
Plus, there’s no arguing that hiring contractors is a lighter lift in the short term. Contractors are the quickest way to get things off your plate with the least amount of strategy and prep work on your end. But depending exclusively on contractors is not a growth-minded solution.
So we’re putting this fallacy to rest once and for all.
We’re diving into the 3 actual costs of hiring an employee versus a contractor. What exactly will hit your budget? We’ll break down the must-pays (eh ehm, taxes), the optional extras, and how much to budget to keep everything HR compliant when working with employees.
Plus I’m revealing the most unexpected, often overlooked cost of bringing on an employee. Trust me, it’s not what you’re thinking.
Let’s bust this myth together!
Listen Now!
A Note on Employee Cost
This episode comes with a giant caveat that cost is not a valid determining factor when deciding between hiring an employee or a contractor. A worker’s classification is dictated by the nature of the role and your working relationship
Links Mentioned:
Employee Cost Calculator: Download the calculator here and start plugging in your numbers today!
Set To Scale: Join our monthly membership for personalized HR solutions that grow with your business.
